Financial Troubles
In early 2009, Dubai World sued its joint venture partner MGM Resorts International for breach of contract and thus decided to not make its payment of US$200 million in financing, required to keep the project on track. By April 17, 2009, MGM Resorts International and Dubai World had agreed to a set of terms that would ensure the completion of CityCenter.
Read more about this topic: City Center
Famous quotes containing the words financial and/or troubles:
“A theory of the middle class: that it is not to be determined by its financial situation but rather by its relation to government. That is, one could shade down from an actual ruling or governing class to a class hopelessly out of relation to government, thinking of gov’t as beyond its control, of itself as wholly controlled by gov’t. Somewhere in between and in gradations is the group that has the sense that gov’t exists for it, and shapes its consciousness accordingly.”
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